Markets must be free of all interference to make sure that the correct price is always agreed between seller and buyer.
That definitely always happens -- as long as the profits flow rapidly to the rich.
Gas Prices
The price of something can only be known when someone buys it. Until the purchase has happened, the price is just a suggestion, a hope, an offer.
If the market rate for gas has gone up catastrophically, that can only mean that it is being purchased at that terrible rate.
Well, terrible for the purchaser, not for the seller.
But as the seller in this case is a wealthy multinational corporation, this extreme situation is not questioned.
It is the will of the market, or some such claptrap.
This is disaster capitalism at its most savage, pouring money at an astonishing rate from nations into the accounts of fossil fuel companies.
It is a product of group-think, it is delusional, the financial emperor showing off his new clothes.
Because it is avoidable. The purchasers could simply get together and offer a lower price, reject the 'market' rate, and stand firm. Then the price will drop.
And if there is a shortage -- would it not be better for the purchasers to divide up the available gas for themselves? Rather than bidding up the price in a frenzy so that only the rich can afford it and distribution is decided by which nation wishes to impoverish itself most?
Just say no. Nearly everyone on earth would benefit.
Nurses
There is a national shortage of nurses and a desperate difficulty in recruiting them. They are essential. It would be dangerous to allow the shortage to continue.
Wouldn't free market theory insist that employers should offer higher rates in order to attract more 'providers' to enter the 'market'? Isn't this the correct way for the market to fix the problem?
If the 'price' were to triple, as with gas prices, that would be fine, wouldn't it?
No, obviously not. Because this situation would not result in large sums of money going to rich people. So, for some unclear reason, free market economics is not used and, instead, hospitals are short-staffed.
Explanations welcome...
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